Impact of a Nation's Economy | Report
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Added on 2020-02-05
Impact of a Nation's Economy | Report
Added on 2020-02-05
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Travel and tourismorganization in globalcontext 1
TABLE OF CONTENTSIntroduction .....................................................................................................................................4Task 1...............................................................................................................................................41.1................................................................................................................................................41.2................................................................................................................................................41.3................................................................................................................................................5Task 2...............................................................................................................................................62.1................................................................................................................................................62.2................................................................................................................................................62.3 ...............................................................................................................................................7Task 3...............................................................................................................................................83.1................................................................................................................................................83.2................................................................................................................................................83.3................................................................................................................................................9Task 4...............................................................................................................................................94.1................................................................................................................................................94.2..............................................................................................................................................10Conclusion ....................................................................................................................................11References .....................................................................................................................................122
INTRODUCTION In the modern era, travel and tourism has emerged as one of the fast growing and mostpotential sector of the country (Ateljevic and Page, 2009). Furthermore, increasing demandamong people in the market can be termed as one of the major reason behind high growth rate ofthe entire industry. The present research report explains the core differences betweenorganizations operating in travel and tourism. Along with this, the report also highlights theimpact of a nation's economy on activities of travel and tourism sector. The effect of global andnation event in the tourism and travel sector is also explained in the present report. TASK 11.1It can be stated that organizations operating in travel and tourism sector are completelydifferent from each other. In context of travel trends, UK has witnessed increase in the totalnumber of visitors or travelers in the year 2014. As compared to 2013, there was 5.2% growthwitnessed by travel industry of UK in 2014. Furthermore, more than 34.4 million travelers hasvisited the country in order to witnesses its rich culture and history. On the other side of this,tourism industry of UK is also growing with a very good pace and it is contributingapproximately 9% of the total GPD which is far away from the travel industry. In the year 2014,the total revenue achieved accounted to £125.2bn. There are many businesses operating in thetravel and tourism sector (Travel Statistics for Tour Operators, 2015). For example there are soletraders who manages and takes care of all businesses operations by their own. Apart from this,there are partnership firms where two or more than two parties have integrated with each other inorder to deliver services related to travel and tourism. Some businesses are carrying outoperations at small level whereas there are firms which are conducting marketing and practicesrelated to travel and tourism at wider level. Tour operators such as Thomas Cook offers servicessuch as moving around from one place to another whereas hotels such as Hilton are offeringservices linked with food and accommodation. 1.2At the time of carrying out their operations and business practices there are certainresponsibilities which organizations in travel and tourism needs to accomplish. In terms of3
stakeholders it is the most important duty of organizations to take steps which benefits them.Further, it is the responsibility of businesses to offer adequate and higher return against themoney which they have invested. On the other hand, it is also the key responsibility ofcompanies in travel and tourism sector is linked with employees. The businesses need to makesure that better and hygienic working conditions are being offered to employees. In addition tothis, offering appropriate pay, work timing and taking care of employee motivation are someother responsibilities (Caro and Roemer, 2006). At the time of carrying out business practices,firms are also responsible to make sure that satisfactory products and services are provided tocustomers at very convenient prices. This means no false or unethical marketing should beconducted in order to sale product or service. These businesses are responsible to ensure thattheir operations and business practices do not create any kind of negative impact on environment(Chambers, 2009). Another responsibility of these organizations to strictly follow the rules,regulations, laws which has been framed by government and other regulatory bodies. 1.3Strategies can be termed as the action plan which are being used by businesses in order toachieve desired outcomes and goals. Further, there are certain strategies which has beenemployed by travel and tourism organization in order to maintain global operations. Companiessuch as Hilton hotel formulated wide range of strategies in order to carry out effective flow of allits operations and activities (Evans, Stonehouse and Campbell, 2012). Here, the selectedorganization is making use online marketing channels with an objective to create awarenessamong customers and attract them. On the other side of this, the brand has also adopted strategyof market research wherein researches are carried out in order to become aware of changingcustomer demand and need. It can be stated that the use of this strategy help the firm to delivermore satisfactory services to their customers (Hjalager, 2010). On the basis of changingcustomer demand, Hilton hotel carries out changes in its services at regular intervals. This hassupported in increasing sales, profits and market share of the selected hospitality business. Otherthan this, strategies also focuses on innovations in services which help the firm to offercustomers with something new and innovative. It can be stated that Hilton hotel is using thestrategy of differentiation in order to carry out its global operations. 4
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